Aditya Birla Sun Life AMC makes muted market debut; shares decline 2 pc at close of trade

Shares of Aditya Birla Sun Life AMC Ltd made a muted market debut on Monday and settled nearly 2 per cent lower against its issue price of Rs 712.The stock listed at Rs 712 on the BSE.

Shares of Aditya Birla Sun Life AMC Ltd made a muted market debut on Monday and settled nearly 2 percent lower against its issue price of Rs 712.

The stock is listed at Rs 712 on the BSE. Later, it touched a high of Rs 721 and a low of Rs 696 during the day.

It settled at Rs 699.65, lower by 1.73 percent.

On the NSE, it debuted at Rs 715, a marginal gain of 0.42 percent from the issue price. The stock settled at Rs 698, registering a decline of 1.96 percent.

In traded volume terms, 6.80 lakh shares were traded at the BSE and over 78.76 lakh shares at the NSE during the day.

The initial public offer of Aditya Birla Sun Life AMC Limited received 5.25 times subscription earlier this month.

The initial public offer was in a price range of Rs 695-712 per share.

Aditya Birla Sun Life AMC Ltd, the investment manager of Aditya Birla Sun Life Mutual Fund, is a joint venture between Aditya Birla Group and Sun Life Financial Inc of Canada.

Asset management firms like Nippon Life India Asset Management, HDFC AMC, and UTI AMC are already listed on the stock exchanges.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)